Former PalmStar Media executives Ankur Rungta and Vishal Rungta have announced their new Los Angeles and New York-based production company.
Nickel City Pictures will focus on developing and producing commercial film and television content across all genres and has set a target of two to three films in 2017.
The founders have closed an exclusive development partnership with Germany’s Telepool that will give Nickel City access to “significant capital” and access to Telepool’s European distribution platform as well as strategic insight on international markets.
Telepool head of acquisitions and sales Thomas Sierk and CEO Tobias Weymar will run point on the relationship from their side and the parties are working on an initial slate of four projects.
“The launch of Nickel City Pictures has been made all the more exciting because of our partnership with Telepool, one of Europe’s leading content distributors and a strong strategic partner for our new company,” said Ankur and Vishal Rungta.
“The Telepool team is extremely knowledgeable, with excellent creative and commercial taste – all of which will be an invaluable asset as we build our slate.”
Weymar said: “Nickel City Pictures is an ideal partner for Telepool, as we continue to collaborate on a global stage with likeminded, visionary companies.
“Both Ankur and Vishal display an ambitious drive and commercial sensibility, while boasting rich relationships across the industry. Their business backgrounds and wider expertise in the entertainment space leaves us with no doubt that we will have a huge amount to show from our collaboration.”
The Rungtas previously served as partners and executives at PalmStar Media and served as executive producers on The November Man and Laggies.
Ankur Rungta is executive producer on the upcoming Will Smith starrer Collateral Beauty, while Vishal serves in the same capacity on John Wick: Chapter Two.